NEW YORK ( BBH FX Strategy) -- The dollar is mixed, with most of the losses coming against the European currencies. The euro made a new high for this move vs. the dollar on Tuesday but so far has been unable to build on it. Support appears to be building for a larger European Financial Stability Facility/European Stability Mechanism firewall ahead of this week's eurozone finance ministers meeting.The Irish referendum is now set for May 31 and the latest polls indicate it will pass. Italy had a well received T-bill auction, but Prime Minister Mario Monti's support is flagging in latest polls and suggests difficulties ahead in pushing through labor reforms. Near-term resistance expected to come in near 1.34 and then 1.348, while support lies around 1.33.
Euro Higher, but News Remains Negative
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